Pakistan’s Large Scale Manufacturing (LSM) Increases By 68% in April this year, 13% in 10MFY21

Reduction in duties on raw materials and low interest rates is expected to encourage economic enterprises during the current financial year.

Big industry output plunges 25pc in May - Newspaper - DAWN.COMPakistan’s Large-Scale Manufacturing (LSM) sector witnessed a growth of 68.07% in April 2021.

Meanwhile, the sector’s output rose 12.84% in the first 10 months (July-April) of the ongoing fiscal year 2020-21 (10MFY21).

Large-Scale Manufacturing (LSM) Shows a Growth of 11.4% - Startup Pakistan | Startup and Technology News from Pakistan

According to data published by the PBS (Pakistan Bureau of Statistics), 14 out of 15 sub-sectors in LSM grew during the period under review.

Reduction in duties on raw materials and low interest rates is expected to encourage economic enterprises during the current financial year.

Sector-wise, the manufacturing of 11 items under the Oil Companies Advisory Committee (OCAC) was up by 85.76% on a year-on-year (YoY) basis in April 2021.

The 36 items under the Ministry of Industries & Production grew by a whopping 99.67%.

Meanwhile, the 65 items listed by the provincial bureaus of statistics increased by 24.12%.

Nevertheless, it is pertinent to mention that the growth in April this year sank 7% compared to the preceding month of March.

The month of April was the third consecutive one in which the sector saw a descending trend on a month-on-month (MoM) basis amid the third wave of the COVID-19 pandemic.

Further data by the PBS reveals that the whole automobile sector recorded robust growth in 10MFY21 contrasted to the same period from a year ago.

The production of tractors rose by 65.26%, trucks 2.56%, buses 4.33%, jeep, and cars 41.61%, LCVs 45.93%, and motorcycles by 33.39% during the months under review.

The output of cement also rose by 25.36% during the 11 months under review.

This was due to a greater demand following the commencement of construction projects and a rise in exports.

Similarly, ingots and billets in the steel sector registered a growth of 48.62%. 

Likewise, the production of paints and varnishes increased by 73.25%. Cigarette production also posted a growth of 19.76%.

Furthermore, the production of vegetable ghee bounced and registered an increase of 1.52%, cooking oil 3.04%, and tea combined 5.91%.

Meanwhile, the output of wheat and grain milling output declined by 6.88%.

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